We are still holding the put side and waiting if we have to roll or the trade closes later too.

UPDATE: May 22, 2017

This trade also executed today morning. We collected 0.55 or $55.00 dollars credit and now we are in the trade. Now we have to wait for it to develop. Ideally, we want the stock price to stay in between our short put and call strike until expiration (which is in June 23, 2017). In this case, both options legs will expire worthless.

However, we will not be waiting all the way until expiration.

We placed a buy back order for each option to buy back our puts and calls for 0.05 debit (which may happen well before expiration).

For Monday morning, I am placing a new strangle trade using TECK (TECK) as underlying.

If the trade doesn’t execute on Monday morning, I may adjust the credit as needed to get executed.

This will be a longer term trade than what I typically trade (34 DTE) since I found it difficult to find a trade with a decent credit and shorter period of time.